CALGARY, Sept. 5, 2013 /CNW/ - Athabasca Oil Corporation (TSX: ATH) (Athabasca or AOC) reports the Fort
McKay First Nation seeks permission to appeal the Dover Commercial
Project approval.
As previously reported, on August 6, 2013 the Alberta Energy Regulator
(AER) approved the Dover Commercial Project noting that "the Project
represents an economic opportunity, not only for Dover but also for
Alberta, and will have a positive impact on the Province's economy".
The Fort McKay First Nation (FMFN) has filed a notice seeking permission
from the Court of Appeal of Alberta to appeal the AER's decision.
Athabasca expects that submissions relating to this application will be
pursued over the next two months, subject to the Court's calendar.
The Dover Commercial Project, which is operated by Brion Energy
Corporation, is a joint venture between Athabasca and Phoenix Energy
Holdings Limited (Phoenix).
"We are not surprised by FMFN's decision to seek permission to appeal
the Alberta Energy Regulator decision. This is a right they have under
Alberta's Responsible Energy Development Act. The Alberta Energy Regulator decision was made after a public hearing
where all parties' arguments were carefully considered resulting in a
favourable decision," said Sveinung Svarte, AOC's president and chief
executive officer. Notwithstanding the application for leave to appeal,
we expect that the final approval process will continue to progress,
including receipt of Order in Council and approval from Alberta
Environment.
About Athabasca Oil Corporation
Athabasca Oil Corporation is a dynamic, Canadian energy company with a
diverse portfolio of thermal and light oil assets. Situated in
Alberta's Western Canadian Sedimentary Basin, the Company has amassed a
significant land base of extensive, high quality resources. With 10.6
billion barrels of bitumen resources (contingent resources, best
estimate) and growing light oil production, Athabasca is positioned to
become a major oil producer. Athabasca's common shares trade on the TSX
under the symbol "ATH". For more information, visit www.atha.com.
Reader Advisory:
This News Release contains forward-looking information that involves
various risks, uncertainties and other factors. All information other
than statements of historical fact is forward-looking information. The
use of any of the words "anticipate", " "expect", "may", "would",
"will", "believe", " and similar expressions are intended to identify
forward-looking information. The forward-looking information is not
historical fact, but rather is based on the Company's current
assumptions and expectations regarding the regulatory approval process
in respect of the Dover Commercial Project. This information involves
known and unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those anticipated in
such forward-looking information. No assurance can be given that these
assumption and expectations will prove to be correct and such
forward-looking information included in this News Release should not be
unduly relied upon. This information speaks only as of the date of this
News Release. In particular, this News Release may contain
forward-looking information pertaining to the expected process for, and
timing of receipt of, regulatory and government approvals for the Dover
Commercial Project; With respect to forward-looking information
contained in this News Release, assumptions have been made regarding
the regulatory framework in Alberta and the impact that the agreements
that are between Athabasca and Phoenix in respect of the Dover
Commercial Project will have on the Company. Actual results could
differ materially from those anticipated in this forward-looking
information.
SOURCE: Athabasca Oil Corporation
